Question

Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow....

Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual salaries are shown in thousands of dollars.

Public Accountant Financial Planner
50.2 49.0
59.8 50.2
57.3 54.1
57.2 56.9
53.2 50.9
55.0 52.6
51.9 50.7
59.5 54.9
58.0 52.8
52.9 49.9

(a)

Use a 0.05 level of significance and test the hypothesis that there is no difference between the starting annual salaries of public accountants and financial planners.

State the null and alternative hypotheses.

H0: The two populations of salaries are not identical.
Ha: The two populations of salaries are identical.H0: Median salary for public accountants − Median salary for financial planners ≤ 0
Ha: Median salary for public accountants − Median salary for financial planners > 0    H0: Median salary for public accountants − Median salary for financial planners ≥ 0
Ha: Median salary for public accountants − Median salary for financial planners < 0H0: The two populations of salaries are identical.
Ha: The two populations of salaries are not identical.H0: Median salary for public accountants − Median salary for financial planners > 0
Ha: Median salary for public accountants − Median salary for financial planners = 0

Find the value of the test statistic.

W =

Find the p-value. (Round your answer to four decimal places.)

p-value =

What is your conclusion?

Reject H0. There is not sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners.Reject H0. There is sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners.    Do not reject H0. There is not sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners.Do not reject H0. There is sufficient evidence to conclude that there is a significant difference between the starting annual salaries of public accountants and financial planners.

(b)

What are the sample median annual salaries (in $) for the two professions?

Public Accountantssample median=$ Financial Plannerssample median=$

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow....
Samples of starting annual salaries for individuals entering the public accounting and financial planning professions follow. Annual salaries are shown in thousands of dollars. Public Accountant Financial Planner 50.2 49.0 59.8 50.2 57.3 54.1 57.2 56.9 53.2 50.9 55.0 52.6 51.9 50.7 59.5 54.9 58.0 52.8 52.9 49.9 (a) Use a 0.05 level of significance and test the hypothesis that there is no difference between the starting annual salaries of public accountants and financial planners. State the null and alternative...
You may need to use the appropriate appendix table or technology to answer this question. The...
You may need to use the appropriate appendix table or technology to answer this question. The gap between the earnings of men and women with equal education is narrowing but has not closed. Sample data for seven men and seven women with bachelor's degrees are as follows. Data are shown in thousands of dollars. Men Women 39.6 46.5 82.5 42.4 52.2 38.9 60.2 49.5 47.2 32.8 53.9 58.5 62.3 26.8 (a) What is the median salary (in $) for men?...
You may need to use the appropriate appendix table or technology to answer this question. The...
You may need to use the appropriate appendix table or technology to answer this question. The gap between the earnings of men and women with equal education is narrowing but has not closed. Sample data for seven men and seven women with bachelor's degrees are as follows. Data are shown in thousands of dollars. Men Women 32.6 41.5 80.5 40.4 50.2 35.9 66.2 42.5 44.2 30.8 59.9 55.5 60.3 21.8 (a) What is the median salary (in $) for men?...
ou may need to use the appropriate appendix table or technology to answer this question. The...
ou may need to use the appropriate appendix table or technology to answer this question. The following data are product weights for the same items produced on two different production lines. Line 1 Line 2 13.6 13.7 13.8 14.1 14.0 14.2 13.9 14.0 13.4 14.6 13.2 13.5 13.3 14.4 13.6 14.8 12.9 14.5 14.4 14.3 15.0 14.9 Test for a difference between the product weights for the two lines. Use α = 0.05. State the null and alternative hypotheses. H0:...
When flights are delayed, do two of the worst airports experience delays of the same length?...
When flights are delayed, do two of the worst airports experience delays of the same length? Suppose the delay times in minutes for seven recent, randomly selected delayed flights departing from each of these airports are as follows. Airport 1 Airport 2 68 105 96 35 47 33 32 84 53 79 25 42 46 54 Use the MWW test to determine if there is a difference in length of flight delays for these two airports. Use α = 0.05....
The better-selling candies are often high in calories. Assume that the following data show the calorie...
The better-selling candies are often high in calories. Assume that the following data show the calorie content from samples of M&M's, Kit Kat, and Milky Way candies. M&M's Kit Kat Milky Way 250 245 200 210 205 208 230 215 202 220 225 190 250 240 180 Test for significant differences among the calorie content of these three candies. State the null and alternative hypotheses. H0: MedianMM ≠ MedianKK ≠ MedianMW Ha: MedianMM = MedianKK = MedianMWH0: MedianMM = MedianKK...
The table below presents the summary statistics for the starting annual salaries (in thousands of dollars)...
The table below presents the summary statistics for the starting annual salaries (in thousands of dollars) for individuals entering the public accounting and financial planning professions. Sample I (public accounting): X?1 = 60.35, 3.25 S1 = 3.25, n1 = 12 n    Sample II (financial planning): X?2 = 58.20, 2.48 S2 = 2.48, n2 = 14 n Test whether the mean starting annual salaries for individuals entering the public accounting professions is higher than that of financial planning assuming that...
Three admission test preparation programs are being evaluated. Suppose the scores obtained by a sample of...
Three admission test preparation programs are being evaluated. Suppose the scores obtained by a sample of 20 people who used the programs provided the following data. Program A B C 540 450 600 400 540 630 480 400 570 530 410 480 480 470 580 610 360 620 550 560 Use the Kruskal-Wallis test to determine whether there is a significant difference among the three test preparation programs. Use α = 0.05. State the null and alternative hypotheses. H0: Not...
On the basis of data provided by a salary survey, the variance in annual salaries for...
On the basis of data provided by a salary survey, the variance in annual salaries for seniors in public accounting firms is approximately 2.1 and the variance in annual salaries for managers in public accounting firms is approximately 11.1. The salary data were provided in thousands of dollars. Assuming that the salary data were based on samples of 25 seniorsand 26 managers, test to determine whether there is a significant difference between the variances of salaries for seniors and managers....
Below are the summary statistics for the starting annual salaries (in thousands of dollars) for individuals...
Below are the summary statistics for the starting annual salaries (in thousands of dollars) for individuals entering the public accounting and financial planning professions. If the level of significance is 0.05, what is the value of the test statistic for testing whether there is evidence of differences in the variances? Sample 1 (public accounting) xbar = 60.35 S = 3.25 n = 12 Sample 2 (fin. planning) xbar = 58.20 S = 2.48
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT